A new report published by B2B Marketing and Marketscan has found that only one-third of B2B marketers think “data first” when planning and carrying out their strategies.
According to the results, approximately 50 percent of respondents said that data is used “sometimes,” while 13 percent said that they rely on experience more than data. Further, more than 70 percent of B2B marketers believe they aren’t getting the most out of their database.
The number one challenge related to data was a lack of data accuracy (31 percent), followed by a lack of technological sophistication (11 percent). Additionally, 56 percent of respondents said that there is currently a data management skills gap in their organization.
“As the people in B2B businesses that can gain the most from high-quality data, marketers need to lead the change when it comes to data, acting as internal champions within their organizations, pressing for the innovations that will make the collection and management of data more efficient, more personalized and more customer-centric,” wrote the authors of the report.
Marketers derive more than 50 percent of their data from voluntary registrations. Less than 30 percent said that they purchase data from an outside source. Despite facing numerous challenges, research shows that marketers continue to use data to create a more personalized customer experience.
B2B Marketers Discover the Advantages of Data
The 2015 Global Data-Driven Marketing Survey released by Teradata Corp. found that two-thirds of marketers consider faster, more accurate decisions to be key benefits of data usage.
About 90 percent said that individualized marketing is a priority, and 78 percent now use data systematically. As companies look to personalize the experience for the consumer, data is becoming a critical component of B2B marketing strategies.
“It is clear from these survey results that the future of marketing is all about meeting the expectations of the individual consumer,” said Darryl McDonald, president of Teradata. “Today, more than anything else, marketers want access to trustworthy, individualized insights based on credible data, so the expectations of every customer can be known, respected and met on a personal level.”